They stated they were long on opportunities, which I'd view in a different frame to 'short of cash'. Now, presumably, at the right share price they see investing in themselves as an optimal opportunity. And I'd endorse that opportunity, as an existing equity holder : source for ~$191, and apply those funds for probably the low $160's.
Remember, that CR was late '21, and a couple of conflicts have changed the investing landscape since then, particularly when it comes to energy, so, to me, this is management displaying some adaptability to the times (unsurprisingly....).
Ann: Macquarie Group 1H24 Presentation, page-34
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